Central Lakes Trust has appointed a new investment committee member, Simon Flood, of Queenstown, effective January 1.

Mr Flood’s appointment replaces the late Sir Eion Edgar who retired earlier in the year after 15 years involvement with the trust and six years chairing the committee.

Trust chairwoman, Linda Robertson welcomed Mr Flood to the committee, while acknowledging Sir Eion’s contribution.

“Eion made a significant contribution to the trust,” she said.

“An elected board member between 2004 and 2013, chair between 2010 and 2013 and investment committee chair till his retirement in May this year, his sound financial advice over the years saw the trust diversify its portfolio of investment, and benefit significantly from his expertise.”

Trustees manage funds of more than $450 million and allot grants for charitable purposes within the Central Lakes region.

The trust increasingly requires appropriate expertise for decision making regarding investments as over time, the diversification, scale and complexity of its investment portfolio has intensified.

“We welcome Simon, he comes to the committee with an impressive resume, we look forward to the contribution he will undoubtably make over the next two years,’’ Ms Robertson said.

Queenstown-based, Mr Flood is an experienced business leader, with more than 25 years’ experience in the global investment management industry having held a variety of senior leadership roles in London, Hong Kong and Singapore.

He currently serves on the Board of the Queenstown Airport Corporation where he is deputy chairman concurrent with his role as chairman of the Safety & Operational Risk Committee. He has also served as QAC’s managing director.

Mr Flood is a trustee of the University of Canterbury Foundation and a member of the University of Canterbury Foundation finance committee, as well as a trustee for the Lakes District Hospital Foundation in Queenstown.

He and his wife Ei-Mynn live with their two children in Queenstown after moving back to New Zealand from overseas in 2015.

Mr Flood’s connection with the district dates back to his childhood when he was a frequent visitor, and he has owned property in Central Otago since the late 1990s.